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ID:
175037
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| Summary/Abstract |
In this study, subsidies are classified into government subsidies beforehand (GSB) and government subsidies afterwards (GSA). We examine the impacts of GSB and GSA on the financial performance of Chinese enterprises of New Energy Vehicle (NEV). Analyzing a dataset of Chinese NEV firms' financial performance from 2013 to 2017 with panel regression models, we demonstrate that the two forms of government subsidies have different impacts on New Energy Vehicle enterprises' performance. Specifically, we find a positive U-shaped relationship between GSB and financial performance and an inverted one between GSA and financial performance. We further investigate the moderating role of intelligent transformation in the relationships between government subsidies and NEV enterprises’ performance. Our empirical analysis suggests that intelligent transformation can improve the efficiency of GSA and weaken the negative effects of excessive GSA. These results highlight the importance of intelligent transformation for NEV enterprises, providing policy makers with new insights into NEV subsidy policies.
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| 2 |
ID:
150766
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| Summary/Abstract |
In this research, we aim to understand the influence of government subsidies on enterprises’ research and development (R&D) investment behavior, particularly in China’s renewable energy sector. We are also interested in examining how the attributes of enterprise ownership act as a moderating variable for the relationship between government subsidies and R&D investment behavior. Three classical panel data analysis models including the pooled ordinary least squares (OLS) model, the fixed effect model and the random effect model are employed. We find that government subsidies have a significant crowding out influence on enterprises’ R&D investment behavior and that the influence is further moderated by the attributes of enterprise ownership. Moreover, a panel threshold regression model is used to demonstrate how the influence of government subsidies on enterprises’ R&D investment behavior will change when government subsidies increase. Two thresholds, 0.6% and 10.1%, are identified. We recommend that relevant government departments should motivate enterprise R&D investment behavioral intention by increasing subsidies within a certain range. Different attributes of enterprise ownership should also be considered as part of policy reform and re-structuring relating to government subsidies.
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